Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Premium growth and rate rises outweigh cat losses for Beazley at Q3
8th November 2018
Strong premium growth across all divisions and an average 3% rate increase on renewal business have driven profits for specialist insurer Beazley at the third quarter of 2018 despite significant catastrophe losses. Gross premiums written by Beazley for the nine months ended 30 September 2018 increased by 11% year-on-year to $1.96 ... Read the full article
Ensurance UK to offer cyber cover for construction sector, backed by Beazley
5th November 2018
Ensurance UK Limited, a managing general agent (MGA) and Lloyd’s Coverholder, has announced that it plans to target the construction sector with a new cyber insurance product, backed by global specialty insurer Beazley. Ensurance has been appointed as a distributor for the new product, which is designed to minimise business disruptions ... Read the full article
Email data breaches continue to escalate in Q2: Beazley
6th August 2018
The number of attacks targeting business email accounts continued to increase through the second quarter of 2018, particularly for organisations using Microsoft’s Office 365, according to specialist insurer Beazley. Beazley said that email compromises accounted for roughly 23% of incidents reported to its Beazley Breach Response (BBR) Services team during Q2 ... Read the full article
Beazley launches new Lloyd’s consortium for U.S wage & hour risks
26th July 2018
Specialist insurer Beazley has launched a new consortium at Lloyd’s to provide increased capacity for wage & hour risks and to expand the range of choices available to U.S organisations. The Concorde Consortium will underwrite risks on a surplus lines basis, building on Beazley’s existing expertise in employment practices liability (EPL), ... Read the full article
Beazley eyes broader growth in improved rating environment
20th July 2018
Price firming has been in line with the expectations of specialist insurer Beazley, and the firm sees an opportunity to take advantage of an improved rating environment, where it can ultimately look for growth across a broader range of business lines. The London-based insurer reported a decline in profit before tax ... Read the full article
Beazley announces Global Lawyers Consortium for large UK firms
19th July 2018
Beazley, the specialist insurer, has announced the launch of a new consortium that will provide professional indemnity insurance to large law firms based in the UK. Led by Beazley, the Global Lawyers Consortium will offer up to £10 million of primary capacity. Brenna Westinghouse, Focus Group Leader for Large Law Firms at ... Read the full article
ACORD, Aon, and Beazley release new Cyber Data Breach Standard
9th July 2018
ACORD, the insurance and reinsurance industry data standards body, has collaborated with Aon and Beazley on the development of the ACORD Cyber Data Breach Standard, a new standard that aims to increase operational efficiency across the global re/insurance value chain. According to a 2017 ACORD survey, nearly 60% of re/insurers consider ... Read the full article
Beazley appoints new territory manager for eastern Canada
9th July 2018
Specialist insurer Beazley has named Jo-Anne Hawthorne as territory manager for eastern Canada, reporting to Cheryl Hobbs, Territory Manager for Canada. Hawthorne will be responsible for developing relationships with brokers in Ontario, Atlantic Canada, Ottawa and Quebec, with a focus on expanding the firm's book of business throughout these regions. She brings ... Read the full article
Beazley launches updated InfoSec cyber policy
18th June 2018
Beazley has launched an enhanced version of its Beazley InfoSec policy to ensure its large business clients remain protected against the evolving nature of cyber exposures. When Beazley's policy was first launched in 2006, policyholders were mainly concerned with third party exposure from the loss of personal customer data, but, more recently, ... Read the full article
Beazley considers GDPR implications of Dixons Carphone data breach
13th June 2018
Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article
Beazley splits specialty lines into two divisions led by Eaton and Donovan
4th June 2018
Specialist and Lloyd’s focused re/insurer Beazley plc has completed a split of its specialty underwriting unit into two separate divisions, which places the cyber risk practice at the firm outside of specialty risks and into a new unit aligned on technology, media, business and management liabilities. Beazley has been reorganising its ... Read the full article
Beazley hires Sam Franks as Regional Business Development Manager
24th May 2018
Specialist insurer Beazley has announced the appointment of Sam Franks as Regional Business Development Manager. Franks is set to arrive at the firm on September 1 2018 and will be expected to lead Beazley’s U.K. business development initiative from its Birmingham office. He joins from Hiscox Birmingham, having served as Regional ... Read the full article
Beazley’s Q1 gross premiums grow 10% amid strong rate increases
11th May 2018
Beazley has reported that its gross premiums written increased by 10% to $631 million at the end of first-quarter 2018, as premium rates increased by 3% on its renewal business. The specialist insurer's reinsurance division saw a particularly strong underwriting performance, with rates increasing 7% across the portfolio and premiums also ... Read the full article
Beazley to offer new event cancellation product for charities
10th May 2018
Specialist insurer and reinsurer Beazley has developed a new event cancellation insurance product for registered charities to protect them against costs and loss of revenue related to the events they stage. The coverage has been tailored to charities by recognising income derived from donations made at events, which contribute significantly to ... Read the full article
Beazley and Weather Decision collaborate to automate claims payment
2nd May 2018
Beazley, a specialist re/insurer and provider of weather-related coverage for event organisers, has partnered with Weather Decision Technologies (WDT) to automate the payment of claims under its Beazley Weather Guard policy. The collaboration will allow Beazley to offer a digitised, personalisable policy that automatically pays policyholders based on the occurrence of ... Read the full article
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